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2020 (2) TMI 1415 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt an dispute or not - HELD THAT:- It manifests that the corporate debtor has tried to create and establish a pre- existing dispute by asserting that the liability had been transferred to the C.P/ No. IB-1071/ND/2019 M/s. Gupta Ji Electric Company Vs. M/s Straight Edge Contracts Pvt. Ltd. third party who the corporate debtor averred as Principal Employer, but the corporate debtor has failed to establish that the applicant had accepted or was in any manner involved in the said understanding between the parties. The corporate debtor has not placed on record any document which exhibits the plausible dispute between the parties. It can be thus inferred that there is no merit in the so-called dispute raised by the corporate debtor in reply to this application. This leaves no doubt that the default has occurred with respect to the payment of the operational debt of the applicant. Thus mere reply filed by the corporate debtor to the present application, is unable to establish any pre-existing dispute of genuine nature and the said is merely a moonshine dispute as laid down in MOBILOX INNOVATIONS PRIVATE LIMITED VERSUS KIRUSA SOFTWARE PRIVATE LIMITED [2017 (9) TMI 1270 - SUPREME COURT]. Application admitted - moratorium declared.
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